Upbit has launched a reward system for users reporting fraud or scam

Home » FINTECH » Upbit has launched a reward system for users reporting fraud or scam
Upbit has launched a reward system for users reporting fraud or scam

Upbit, the largest South Korean exchange, has launched a reward system for users reporting multi-level fraudulent schemes related to cryptocurrencies and Initial Coin Offerings (ICO).

The system developed by Upbit is designed to “prevent damage from fraud, contributing to the creation of a healthy cryptocurrency ecosystem.”

According to the representatives of the exchange, the number of fraudulent schemes connected with cryptocurrencies is continuously growing. However, thanks to the new exchange system, it has already been possible to identify 20 schemes. The trading platform reported to law enforcement agencies.

According to Hankook Media, the program will be working until March 2019, after that the administration of Upbit will consider the decision to extend the period of its validity.

A reward of 1 million won (about $ 930) from crypto-birgis will be paid to witnesses or victims of fraudulent schemes that provided relevant information before the rest. You can report the illegal scheme in the Upbit application by selecting the option of consulting via Kakao Talk.

  • bitcoinBitcoin$3,949.86
  • ethereumEthereum$146.46
  • rippleXRP$0.326226
  • tetherTether$1.00
  • eosEOS$3.82
  • stellarStellar$0.088947
  • litecoinLitecoin$50.79
  • cardanoCardano$0.046942
  • tronTRON$0.024858
  • moneroMonero$49.92
  • iotaIOTA$0.309902
  • nemNEM$0.043427
  • dashDash$86.84
  • neoNEO$9.05
IBM used blockchain to ship 28 tons of citrus fruits from China to Singapore
On the eve of the Chinese New Year celebration, the technological giant IBM delivered 28 tons of oranges and tangerines from China to Singapore. When issuing a bill of lading confirming the contract of shipment, the blockchain technology was used, reports CoinDesk. IBM experts note that the electronic bill of lading (e-BL) has accelerated administrative […]
2019-02-19 0 12
What Can I Buy with BTC and What Sites Use It?
In the autumn of 2017 cryptocurrency fever triggered a high interest among trade agents in using BTC as payment method both for online and offline commerce. People were thrilled and excited. Searches on Google like “where to pay with bitcoin”, “where to spend bitcoin”, “bitcoin stores” were most frequent those days.  Unfortunately, raising fees for […]
2019-02-18 0 39
The media confirmed the launch date of the test network Telegram Open Network
The Telegram Open Network (TON) blockchain platform, behind which the popular messenger operator stands, is 90% complete, and the launch of the test network is scheduled for the end of March 2019. It is reported by The Block, with reference to the report received by the investors of the project. As the newspaper notes, Telegram […]
2019-02-11 0 15
Media: the cost of the Telegram internal cryptocurrency could reach $ 30 billion
By the end of 2019, the total cost of the internal token Gram of the blockchain project Telegram Open Network (TON) could reach $ 29.5 billion. The Bell reports with reference to the report HASH Crypto Investment Bank. According to the investment company, the target cost of 1 Gram token by the end of 2019 […]
2019-02-07 0 11
© 2017–2018